LO5 During 2010, Belk Corporation purchases $70,000 worth of equipment for use in its business. Belks current

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LO5 During 2010, Belk Corporation purchases $70,000 worth of equipment for use in its business. Belk’s current taxable income before considering the Section 179 deduction is $26,000.

a. What is Belk’s maximum Section 179 deduction in 2010? Explain.

b. Belk’s 2011 business taxable income—before a Section 179 deduction—is

$50,000. What is Belk’s maximum Section 179 deduction in 2011? Explain.

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Concepts In Federal Taxation 2011

ISBN: 9780538467926

18th Edition

Authors: Kevin E. Murphy, Mark Higgins

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LO5 During 2010, Belk Corporation purchases $70,000 worth of equipment for use in its business. Belks current

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Concepts In Federal Taxation 2011

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